Here’s to the End of a Long Week!
By Blake Young
Congratulations! You just made it through a historic week – the most volatile week since 2022.
Even more incredible, we saw the VIX top 65 at one point early on. That easily gives the 2008 Crash and the COVID Crash a run for the money.
If you’ve been following along with my paid Deep Currents recommendations, your retirement’s stronger than ever.
Here’s the situation…
The market itself… well… it’s rallied strongly over the past few days, but VIX has moved higher, too, and could be setting itself up for more. I think this rally could be more of a temporary bounce than anything to bet the farm on.
The wider economy is looking fairly iffy right now, too, with unemployment and bond auctions showing us how shaky things are.
In this environment, I think retirement savers have to be in defensives – consumer staples, utilities, and healthcare. I’m looking at stocks like Costco (COST), Procter & Gamble (PG), and Phillip Morris (PM) in the staples sector and NextEra (NE). Southern (CO), and Dominion Energy in utilities.
That’s all for now. Enjoy the rest of your weekend, and I’ll talk to you on Monday or Tuesday with a new Weekly Watchlist.
Blake Young
